Buying a house? Read the purchase agreement

Buying a house? Read the purchase agreement

Six months ago, when Ravindra Singh took possession of his new house in Mumbai, he was in for a shock. The house differed vastly from the one he had been shown in the plans as well as the sample flat.

A nastier surprise was in store when Singh complained to the builder and was told that he had agreed to all the alterations when he had signed the purchase agreement.

This is an omission most buyers make. They rarely have the time or patience to go through the reams of purchase agreement or have the technical knowhow to understand everything. The sellers take advantage of this and introduce loopholes.